Clime Capital, a climate-focused venture capital firm addressing Southeast Asian markets, has launched its second clean energy fund. South East Asia Clean Energy Facility Fund 2 has a $135 million target, filings from the US Securities and Exchange Commission show.
The SEACEF series pursues a blended finance approach. SEACEF I, launched in 2020, raised an initial $10 million in first-loss commitments from foundations and philanthropic institutions including the Children’s Investment Fund Foundation, Sea Change Foundation International, Wellspring Climate Initiative, High Tide Foundation, Grantham Foundation, Bloomberg Philanthropies and the Packard foundation. Clime Capital had aimed to raise a further $40 million in investment for the first fund, it said in 2020.
Clime Capital, based in Singapore, received verification of its impact management practices by BlueMark, the firm said this week.